The 18 and 12 hour are showing signs of convergence that indicate a downturn is possible.
The Fib retracement placed on the new low and the last high show that XRP reacted normally with a . to rebound to .50. It is possible that a .382 rebound can occur.
In order for me to consider a breakout, XRP must sustain a level greater than 1.05 for a 30 day period.
With that said, XRP continues to be a good proposition for long term accumulations.
I have small buys at present prices with larger buys set in the .40 ranges.
I believe that XRP will retest the lows at
the range of .39 and .45 one more time this month.
I do expect a bull run in July to test the 1.18 due to increased demand of BTC with new larger trading platforms and funds.
My expectation is due to a non related event that occurred with REGI in May resulting from a higher exposure to a select market in the S&P .
It is interesting to note that my very first comment to this chart is dead on. I expect a range of .39 to .45 before another uptick.
XRP is still in bearish trend.
Also, I use the term double bottom in conjunction with a charted Low. Thus, in my terms, a true double bottom will form at .45 range.